Halliburton Announces Executive Leadership Changes

Rhea-AI Summary

Halliburton Company (NYSE: HAL) has announced significant executive leadership changes. Lance Loeffler, previously CFO, will now become Senior Vice President for the Middle East North Africa (MENA) region. Eric Carre, who has over 30 years of experience at Halliburton, will take over as CFO. Chairman Jeff Miller emphasized the continuity in financial strategy despite the changes, highlighting Carre's operational experience and established relationships within the company. This transition aims to bolster leadership and operational strengths within the organization.

Positive

• Lance Loeffler's move to MENA could enhance operational effectiveness and customer relations.
• Eric Carre's appointment as CFO provides continuity in financial strategy.

Negative

• Concerns about potential gaps in experience as new executives transition into their roles.

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) today announced senior executive leadership changes as part of its robust succession management process. Effective immediately, Lance Loeffler, executive vice president and chief financial officer (CFO) will assume the role of senior vice president of the Company’s Middle East North Africa (MENA) region.

Lance Loeffler - Halliburton Senior Vice President, Middle East North Africa Region (Photo: Business Wire)

“Lance has done a fantastic job serving as Halliburton CFO and has played an instrumental role in our Company’s success and financial growth,” said Jeff Miller, chairman, president, and CEO of Halliburton. “It’s now time to expand his leadership development and provide him with an opportunity to strengthen his operational experience by leading our MENA region and working directly with our customers.”

Halliburton Executive Vice President, Global Business Lines, and Chief Health, Safety & Environment Officer Eric Carre will assume the role of CFO. Carre is a proven executive leader in the Halliburton organization and was a key architect of the Company’s capital efficiency strategy. He has an MBA in Finance from the University of Wisconsin-Madison, a master’s degree in mechanical engineering from Université Libre de Bruxelles in Belgium and brings more than 30 years of Halliburton experience to the position.

“Despite the transition in leadership, our financial strategy remains unchanged. Eric provides continuity as we execute on our five strategic priorities in order to deliver industry-leading returns and strong free cash flow for our shareholders,” said Miller. “We believe Eric’s wealth of operational experience, clear understanding of our returns-focused strategy, and strong relationship with our Board of Directors and executive management team will serve Halliburton well as he leads our Finance organization.”

“We are excited for these dynamic leaders to take on the challenges of their new roles. Today’s announcements reflect our deep bench strength of talent, and each of these leaders represent proven strategic thinking, strong execution, and a dedicated commitment to our value proposition – to collaborate and engineer solutions to maximize asset value for our customers,” added Miller.

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005110/en/

For Investors:

David Coleman

Halliburton, Investor Relations

Investors@Halliburton.com

281-871-2688

For Media:

Emily Mir

Halliburton, Public Relations

PR@Halliburton.com

281-871-2601

Source: Halliburton Company

FAQ

What are the recent executive changes at Halliburton?

Halliburton announced that Lance Loeffler has been appointed as Senior Vice President for the MENA region, while Eric Carre becomes the new CFO.

What is the significance of Lance Loeffler's new role?

Loeffler's new position allows him to expand his leadership skills and operational experience directly with customers in a vital market.

Who is taking over as CFO at Halliburton?

Eric Carre, with over 30 years at Halliburton, has been appointed as the new CFO.

How will the leadership changes affect Halliburton's financial strategy?

Jeff Miller stated that despite the leadership transition, Halliburton's financial strategy remains unchanged, focusing on returns and free cash flow.